SAN JOSE, Calif. and SINGAPORE, Jan. 09, 2018 (GLOBE NEWSWIRE) -- Broadcom Limited (NASDAQ:AVGO) (“Broadcom” or the “Company”) announced today that two of its subsidiaries, Broadcom Corporation and Broadcom Cayman Finance Limited (together, the “Co-Issuers”), have commenced an exchange offer for any and all outstanding unregistered 2.375% Senior Notes due 2020, 3.000% Senior Notes due 2022, 3.625% Senior Notes due 2024 and 3.875% Senior Notes due 2027 (collectively, the “January Notes”) and 2.200% Senior Notes due 2021, 2.650% Senior Notes due 2023, 3.125% Senior Notes due 2025 and 3.500% Senior Notes due 2028 (collectively, the “October Notes”). The January Notes and the October Notes were originally issued on January 19, 2017 and October 17, 2017, respectively, in private placements exempt from the registration requirements of the Securities Act of 1933, as amended, in aggregate principal amounts of $13.55 billion and $4.0 billion, respectively. Holders of these notes may exchange them for an equal principal amount of new issues of 2.375% Senior Notes due 2020, 3.000% Senior Notes due 2022, 3.625% Senior Notes due 2024, 3.875% Senior Notes due 2027, 2.200% Senior Notes due 2021, 2.650% Senior Notes due 2023, 3.125% Senior Notes due 2025 and 3.500% Senior Notes due 2028, respectively, pursuant to an effective registration statement on Form S-4 filed with the Securities and Exchange Commission. Terms of the new notes are substantially identical to those of the original notes, except that the transfer restrictions and registration rights relating to the original notes do not apply to the new notes.
The exchange offer will expire at 11:59 p.m., New York City time, on February 7, 2018, unless extended. Tenders of the original notes must be made before the exchange offer expires and may be withdrawn at any time before the exchange offer expires.
Documents describing the terms of the exchange offer, including the prospectus and transmittal materials for making tenders, can be obtained from the exchange agent, Wilmington Trust, National Association, Rodney Square North, 1100 North Market Street, Wilmington, Delaware 19890-1626, Attention: Exchange, facsimile: (302) 636-4139, email: DTC2@WilmingtonTrust.com.
This news release is for informational purposes only, and is not an offer to buy or the solicitation of an offer to sell any security. The exchange offer is being made only pursuant to the exchange offer documents, including the prospectus and letter of transmittal that are being distributed to the holders of the original notes and have been filed with the Securities and Exchange Commission.
This release contains certain forward-looking statements within the meaning of Section 21E of the United States Securities Exchange Act of 1934, as amended, and Section 27A of the United States Securities Act of 1933, as amended. Forward-looking statements generally can be identified by the use of forward-looking terminology, such as “believe,” “expect,” “may,” “will,” “intend,” “estimate,” “continue,” or similar expressions or the negative of those terms or expressions. Such statements involve risks and uncertainties, which could cause actual results to vary materially from those expressed in or indicated by the forward-looking statements. For further information regarding these risks and uncertainties, please refer to the heading “Risk Factors” in the registration statement on Form S-4 related to this exchange offer and in Part I, Item 1A of Broadcom Limited’s and Broadcom Cayman L.P.’s Annual Report on Form 10-K for the fiscal year ended October 29, 2017. The Company cautions you not to place undue reliance on forward-looking statements, which reflect an analysis only and speak only as of the date hereof. The Company disclaims any obligation to update these forward-looking statements.
Broadcom Limited is a leading designer, developer and global supplier of a broad range of digital and analog semiconductor connectivity solutions. Broadcom Limited’s extensive product portfolio serves four primary end markets: wired infrastructure, wireless communications, enterprise storage and industrial & other. Applications for our products in these end markets include enterprise and data center networking, home connectivity, set-top boxes, broadband access, telecommunication equipment, mobile handsets and base stations, data center servers and storage systems, factory automation, power generation and alternative energy systems, and electronic displays.